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Important Questions

Profit, Loss and Discount — Important Questions

ICSE · Class 7 · Mathematics

92 important questions from Profit, Loss and Discount for ICSE Class 7 Mathematics, with answers. Includes multiple choice and multiple correct questions.

92 questions22 flashcards3 formulas & key relations5 concepts

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92 Questions·
multiple choicemultiple correct

Important Questions from Profit, Loss and Discount

1multiple choice
3 marks

A dealer marks a T.V. set at ₹9,000 and gives a discount of 20%. What is the selling price?

Show answer

₹7,200

Step 1: Find the discount. Discount = 20% of ₹9,000 = (20 / 100) × 9000 = ₹1,800. Step 2: Subtract discount from marked price. S.P. = ₹9,000 - ₹1,800 = ₹7,200. So the correct answer is ₹7,200.

2multiple choice
3 marks

An article is marked at ₹155 and sold for ₹124. What is the discount percent?

Show answer

20%

Step 1: Find the discount. Discount = ₹155 - ₹124 = ₹31. Step 2: Find discount percent. Discount % = (31 / 155) × 100 = 20%. So the correct answer is 20%.

3multiple choice
3 marks

A trader bought 12 eggs for ₹16. At what price per egg should he sell them to gain 50%?

Show answer

₹2.00

Step 1: Find gain on 12 eggs. Gain = 50% of ₹16 = (50 / 100) × 16 = ₹8. Step 2: Find total selling price of 12 eggs. S.P. = ₹16 + ₹8 = ₹24. Step 3: Find selling price of 1 egg. ₹24 ÷ 12 = ₹2. So the correct answer is ₹2.00.

4multiple choice
3 marks

By selling an article for ₹270, a loss of 10% is suffered. What is the cost price?

Show answer

₹300

Step 1: If loss is 10%, then S.P. is 90% of C.P. Step 2: So ₹270 = 90% of C.P. Step 3: C.P. = 270 × 100 / 90 = ₹300. So the correct answer is ₹300.

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Frequently Asked Questions

What are the important topics in Profit, Loss and Discount for ICSE Class 7 Mathematics?
Key topics in Profit, Loss and Discount include Core Ideas and Definitions, Finding Profit or Loss Percent, Finding Selling Price from C.P. and Profit or Loss Percent, Equal Quantity Questions and Extra Costs. Study these first, then practise questions on each for Class 7 exams.
How many important questions are there in Profit, Loss and Discount?
Super Tutor has 92 practice questions for Profit, Loss and Discount, including multiple choice, multiple correct questions. A sample with answers is on this page.

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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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